Sec Form 4 Filing - Rosica Jeff @ AVID TECHNOLOGY, INC. - 2020-03-14

Insider filing report for Changes in Beneficial Ownership
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FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
Rosica Jeff
2. Issuer Name and Ticker or Trading Symbol
AVID TECHNOLOGY, INC. [ AVID]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X __ Director _____ 10% Owner
X __ Officer (give title below) _____ Other (specify below)
CEO & President
(Last) (First) (Middle)
75 NETWORK DRIVE
3. Date of Earliest Transaction (MM/DD/YY)
03/14/2020
(Street)
BURLINGTON, MA01803
4. If Amendment, Date Original Filed (MM/DD/YY)
6. Individual or Joint/Group Filing (Check Applicable Line)
__ X __ Form filed by One Reporting Person
_____ Form filed by More than One Reporting Person
(City) (State) (Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 03/14/2020 F 6,962 ( 1 ) D $ 6.23 779,022 D
Common Stock 03/15/2020 M 13,396 ( 2 ) A $ 6.23 792,418 D
Common Stock 03/15/2020 F 5,931 ( 3 ) D $ 6.23 786,487 D
Common Stock 03/15/2020 M 75,585 ( 4 ) A $ 6.23 862,072 D
Common Stock 03/15/2020 A 37,793 ( 5 ) A $ 0 899,865 D
Common Stock 03/15/2020 F 50,202 ( 6 ) D $ 6.23 849,663 D
Common Stock 03/15/2020 A 156,500 ( 7 ) A $ 0 1,006,163 D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(MM/DD/YY)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Performance Rights (Restricted Stock Units) $ 6.23 03/15/2020 M 13,396 03/15/2020( 2 ) 04/01/2021 Common Stock 13,396 $ 0 0 D
Performance Rights (Restricted Stock Units) $ 6.23 03/15/2020 M 75,585 03/15/2020( 4 ) 03/15/2021 Common Stock 75,585 $ 0 75,586 D
Performance Rights (Restricted Stock Units) ( 8 ) 03/15/2020 A 156,500 ( 8 ) 03/15/2023 Common Stock 156,500 $ 0 156,500 D
Reporting Owners
Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Rosica Jeff
75 NETWORK DRIVE
BURLINGTON, MA01803
X CEO & President
Signatures
/s/ Alessandra Melloni as Attorney-in-Fact for Jeff Rosica 03/16/2020
Signature of Reporting Person Date
Explanation of Responses:
( 1 )Represents shares withheld by the Issuer to satisfy tax withholding obligation upon the vesting on March 14, 2020 of 8.33% of the restricted stock units awarded on March 14, 2018. This award includes a provision requiring the withholding of shares by the Issuer to pay the required withholding taxes due on the vesting date.
( 2 )Represents the number of shares issued as a result of the vesting of performance-based restricted stock units based on the Issuer's stock price and certain other financial metrics in 2019. Each restricted stock unit represents the contingent right to receive one share of the Issuer's common stock. This award includes a provision for withholding of shares by the Issuer to pay the required withholding taxes due on each such vesting date.
( 3 )Represents shares withheld by the Issuer to satisfy tax withholding obligation upon the vesting on March 15, 2020 of the performance-based restricted stock units awarded on March 14, 2018. This award includes a provision requiring the withholding of shares by the Issuer to pay the required withholding taxes due on the vesting date.
( 4 )Represents the number of shares issued as a result of the vesting of performance-based restricted stock units based on the Issuer's relative total shareholder return (rTSR) to the Russell 2000 index from March 15, 2018 to March 15, 2020. Each restricted stock unit represents the contingent right to receive one share of the Issuer's common stock. This award includes a provision for withholding of shares by the Issuer to pay the required withholding taxes due on each such vesting date.
( 5 )Represents the number of additional shares issued as a result of the vesting at 150% of performance-based restricted stock units based on the Issuer's relative total shareholder return (rTSR) to the Russell 2000 index from March 15, 2018 to March 15, 2020. Each restricted stock unit represents the contingent right to receive one share of the Issuer's common stock. This award includes a provision for withholding of shares by the Issuer to pay the required withholding taxes due on each such vesting date.
( 6 )Represents shares withheld by the Issuer to satisfy tax withholding obligation upon the vesting on March 15, 2020 of the performance-based restricted stock units awarded on March 26, 2018. This award includes a provision requiring the withholding of shares by the Issuer to pay the required withholding taxes due on the vesting date.
( 7 )Represents an award of restricted stock units that will vest on a time-based vesting schedule as follows: 33.33% on the first anniversary of the grant date of March 15, 2020, and the remaining 66.66% in equal 8.33% installments every 3 months thereafter, provided the reporting person continues to be employed by the Issuer on each such vesting date. Each restricted stock unit represents the contingent right to receive one share of the Issuer's common stock. This award includes a provision requiring the withholding of shares by the Issuer to pay the required withholding taxes due on the vesting date.
( 8 )Represents an award of restricted stock units which vest on a performance-based schedule based on the Issuer's relative total shareholder return (rTSR) to the Russell 2000 index in 2021, 2022 and 2023. Each restricted stock unit represents the contingent right to receive one share of the Issuer's common stock. This award includes a provision for the withholding of shares by the Issuer to pay the required withholding taxes due on each such vesting date.

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